Eversource Energy (d/b/a) · NYSE:ES

Eversource Energy (d/b/a) — Q1 2023 Earnings Presentation

13 slides from Eversource Energy (d/b/a)'s earnings presentation, May 4, 2023

  1. Slide 1: 2023 First Quarter Results

    EVERSOURCE ENERGY Q1 2023 RESULTS 2023 First Quarter Results May 4, 2023

  2. Slide 2: Safe Harbor Statement

    EVERSOURCE ENERGY Q1 2023 RESULTS Safe Harbor Statement All per-share amounts in this presentation are reported on a diluted basis. The only common equity securities that are publicly traded are common shares of Eversource Energy. The earnings and EPS of each business do not represent a direct legal

  3. Slide 3: Agenda

    EVERSOURCE ENERGY Q1 2023 RESULTS Agenda Joe Nolan  Offshore Wind Update Chairman, President & CEO  Clean Energy Initiatives John Moreira  Q1 2023 Financial Results EVP, CFO & Treasurer  Regulatory and Financing Update 2

  4. Slide 4: Eversource Offshore Wind Update

    EVERSOURCE ENERGY Q1 2023 RESULTS Eversource Offshore Wind Update  South Fork Wind (130 MW) construction advancing rapidly o Onshore cable pulling and splicing recently completed o Three-mile sea to shore cable pulled and joined with onshore cable o Installation of subsea cable to the wind farm sit

  5. Slide 5: Offshore Wind Updates

    EVERSOURCE ENERGY Q1 2023 RESULTS Offshore Wind Updates Assumptions Feb 2023 May 2023 Costs Locked in for Three Projects ~90% ~92% Offshore Investment at Quarter End $1.95B $2.16B Expected Spending in 2023 $1.9B - $2.1B $1.4B - $1.6B Expected Spending 2024 – 2026 $1.6B - $1.9B $2.1B - $2.4B Expected

  6. Slide 6: Networked Geothermal Pilot

    EVERSOURCE ENERGY Q1 2023 RESULTS Networked Geothermal Pilot  Design work has been completed  In process of reviewing construction proposals  Permitting and land rights work is underway  149 customers and 39 buildings total  Primary purpose is to gather sufficient data on the costs, operation,

  7. Slide 7: Q1 2023 vs. Q1 2022 Financial Results

    EVERSOURCE ENERGY Q1 2023 RESULTS Q1 2023 vs. Q1 2022 Financial Results 1Q 2023 1Q 2022 Change Electric Transmission $0.45 $0.43 $0.02 Electric Distribution 0.47 0.41 0.06 Natural Gas Distribution 0.49 0.47 0.02 Water Distribution 0.00 0.01 (0.01) Parent & Other (Non-GAAP) 0.00 (0.02) 0.02 EPS, Ex.

  8. Slide 8: Impact of 2023 NSTAR Electric Rate Design Change on Quarterly EPS Distribution

    EVERSOURCE ENERGY Q1 2023 RESULTS Impact of 2023 NSTAR Electric Rate Design Change on Quarterly EPS Distribution 2022 Non- Assuming Rate 2022 Pro Forma % of Total GAAP Design Change Non-GAAP Results if EPS Results by Effective Rate Design Change Quarter 1/1/2022 Had Been Effective 1/1/2022 Q1 $1.30

  9. Slide 9: Well Performing Core Businesses Drive EPS CAGR Solidly into Upper Half of 5-7% Through 2027

    EVERSOURCE ENERGY Q1 2023 RESULTS Well Performing Core Businesses Drive EPS CAGR Solidly into Upper Half of 5 – 7% Through 2027 $4.25- $4.09 $4.43 $3.86 $3.64 $3.45 $3.11 $3.25 $2.81 $2.96 $2.53 $2.65 $2.28 2012A* 2013A* 2014A* 2015A* 2016A 2017A 2018A 2019A* 2020A* 2021A* 2022A* 2023E* 2024E 2025E

  10. Slide 10: Equity Issuance Update

    EVERSOURCE ENERGY Q1 2023 RESULTS Equity Issuance Update New Shares Treasury Shares  $1.2 billion At-The-Market  Dividend reinvestment, Program issued 2.17M shares employee equity programs at a weighted average price of continue with approximately $92.31 in 2022 with proceeds 950,000 shares issued

  11. Slide 11: Appendix

    EVERSOURCE ENERGY Q1 2023 RESULTS APPENDIX 10

  12. Slide 12: Projected Capital Expenditures For Core Businesses

    EVERSOURCE ENERGY Q1 2023 RESULTS Projected Capital Expenditures For Core Businesses $21.5 Billion 2023-2027 $5,000 $4,463 $4,373 $4,434 $4,500 $4,304 $215 $219 $170 $213 $244 $3,945 $4,000 $3,786 $203 $218 $194 $3,541 $208 $266 $235 $3,500 $1,035 $239 $155 $1,038 $1,146 $1,115 $3,064 $144 $ In Mill

  13. Slide 13: 2023 Debt Issuances to Fund Utility Capital Needs and Maturities

    EVERSOURCE ENERGY Q1 2023 RESULTS 2023 Debt Issuances to Fund Utility Capital Needs and Maturities 2023 Issuances to Date Company Size/Coupon Maturity CL&P $500M @ 5.25% Jan 15, 2053 PSNH $300M @ 5.15% Jan 15, 2053 Parent $750M @ 5.45% Mar 1, 2028 2023 Larger Maturities Company Size/Coupon Maturity

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